Russia’s external debt decreased by 21% in 2022
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Russia’s external debt for 2022 decreased by 21.1% ($101.8 billion), amounting to $380.5 billion as of January 1 this year, follows from data Bank of Russia.
“The external debt of the Russian Federation decreased mainly due to the repayment of loans, including those under direct investment relationships, and the reduction of debt on sovereign securities,” the regulator’s annual report says.
In 2022, the external debt of the Central Bank and banks decreased by $21.2 billion, to $93.4 billion, and that of federal governments by $17.2 billion, to $46.1 billion. At the same time, the decrease was recorded for sovereign securities nominated as in rubles (by $13.4 billion) and in foreign currency (by $3.7 billion). The external debt of other sectors decreased by $63.3 billion, to $241 billion.
At the end of the year, the share of long-term liabilities in the total volume of external debt decreased to 82.8% ($315 billion), while the share of short-term debt increased from 16% to 17.2%. Debt in national currency accounted for 32.1% of external liabilities ($122.1 billion), and in foreign currency – 67.9% ($258.5 billion).
As of January 1, the state debt of the Russian Federation decreased to 16.7% of GDP from 26.2% a year earlier.
As Vedomosti wrote earlier, the total amount of Russia’s internal and external public debt for 2022 grew up to 22.8 trillion rubles. from 20.9 trillion at the end of 2021. The cost of servicing it in January-December 2022 amounted to 1.33 trillion rubles, or about 4% of all federal budget spending. According to the law on the federal budget for 2023-2025, the Ministry of Finance expected the public debt at the end of 2022 at the level of 23.4 trillion rubles.
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